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Toshiba Narrows Bidder List

Toshiba Narrows Bidder List

Toshiba has narrowed the number of bidders for its semiconductor business from 10 to a small group that includes Taiwan’s Hon Hai Precision and South Korea’s Hynix. Other contenders include private equity Silver Lake Management firm and chipmaker Broadcom, which are collaborating on the deal.

Offers have come in at about two trillion yen (A$23 billion), but Japan’s government is expected to oppose a sale to Hon Hai or Hynix because of the strategic value of Toshiba’s technology.

Toshiba plans to decide on a winner in June.

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